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Diary: Eskandarian remaining part of the Havas jet set

No golden parachute for Ed Eskandarian, who stepped down as the boss of Arnold Worldwide at the beginning of this year. Quite the reverse, in fact.

September 14, 2007

How long?

1 minute

The newly published 2006 annual report of Arnold's Havas parent reveals
that Eskandarian, who remains a consultant to Arnold, is being allowed
to stay airborne through a subscription to a private aircraft company
"for his professional travel".

Meanwhile, happy landings are assured, with Havas picking up the tab for
his club fees, as well as supplementary health and provident plans.
Sadly, though, Eskandarian will have to scrape by with a 24-month
compensation package that will pay him a mere $500,000 a year
until February 2009.

Jacques Seguela, the Havas creative guru, and Fernando Rodes Vila, the
chief executive, are also revealed as having attractive revised
contracts. What's more, they'll be able to check the small print while
lolling on the back seat of their chauffeur-driven company cars.

Clearly, Havas subscribes to the notion that if you pay peanuts, you
only get monkeys. Mind you, it helps when the top banana is Vincent
Bollore. Forbes magazine ranks him as the 292nd richest man in the
world, with a commercial empire that embraces plastics, fuel
distribution, airport ticket scanners and the entire Cameroon railway
system. His estimated personal fortune: £1.6 billion.

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